Gain Dual Citizenship Fast: Your Guide to St. Lucia Citizenship by Investment

Are you considering St. Lucia citizenship by investment? This program offers a straightforward path to acquiring a second passport through financial contributions that benefit St. Lucia’s development. Whether you’re interested in investment options, like government bonds, real estate, or contributing to the National Economic Fund, this guide outlines eligibility, costs, and process steps for securing your new citizenship and passport. Find out how St. Lucia’s citizenship by investment can offer you global mobility, tax benefits, and more without unnecessary fluff.

Key Takeaways

• St. Lucia’s Citizenship by Investment Program offers multiple investment pathways to citizenship, including contributions to the National Economic Fund, purchasing government bonds, and investing in real estate or approved business projects, with a focus on transparency and due diligence.
• Eligibility for the Saint Lucia Citizenship Program requires applicants to have a clean criminal record, pass due diligence checks, and make a qualifying investment, with the option to include family members under certain conditions without the need for residency.
• St. Lucia citizenship provides extensive benefits, such as visa-free travel to over 140 destinations, favorable tax conditions with exemptions on foreign income and capital gains, and the ability to maintain dual citizenship.

Exploring St. Lucia Citizenship by Investment Program

The St. Lucia Citizenship by Investment Program, established under the Citizenship by Investment Act No. 14 of 2015, has been a dream come true for many since it was launched in December 2015. This well-regulated program, lauded for its focus on transparency and robust due diligence practices, has been a game-changer in the realm of investment programs.

This program offers various investment options, including:

• Contributions to the National Economic Fund
• Purchasing government bonds
• Real estate investments
• Investing in approved business projects

This flexibility extends further by allowing the inclusion of family members in the application for additional fees, making it an attractive option for investors seeking dual citizenship.

Understanding the National Economic Fund

The St. Lucia National Economic Fund, established under Section 33 of the Citizenship by Investment Act, is a key player in the nation’s economic landscape. This fund, designated to receive financial investments for funding government-approved projects, is a cornerstone of the St. Lucia Citizenship by Investment Program.

The Minister for Finance plays a significant role in the allocation of funds from the National Economic Fund for specified purposes, seeking Parliament’s approval annually. This approach ensures the optimum utilization of funds, thereby contributing significantly to the national development agenda.

Real Estate as a Gateway to Citizenship

If you’re considering real estate as a route to St. Lucia citizenship, a variety of government-approved projects are available. The minimum investment required for this route is $200,000.

The real estate investment route offers the following benefits:

• It opens the door to St. Lucian citizenship
• It comes with a waiver of the non-refundable administration fee for the main applicant and children under 18 enrolled in an educational institution
• The minimum investment amount does not increase when including family members in the application, making it a cost-effective pathway to citizenship.

The Allure of Government Bonds

Government bonds present a secure investment route in St. Lucia’s Citizenship by Investment Program. It promises a refund after a set period, appealing to investors seeking a safe and reliable investment option. This route requires a minimum investment starting at $250,000 USD, applicable to both single applicants or a family with any number of dependents.

The invested amount in government bonds must be held for a period of 5 years and is non-interest bearing. After this period, the investment is refunded to the investor. This investment option is structured to benefit family applications, making it a cost-effective pathway to citizenship for applicants with dependents.

Eligibility Criteria for St. Lucia’s CBI Program

Eligibility plays a critical role in the St. Lucia Citizenship by Investment Program. The main applicant must have a clean criminal record, exhibit excellent character, and not be under investigation, except for minor offenses. Additionally, the applicant and their included family members must not pose security risks or have activities likely to tarnish the reputation of St. Lucia.

The program is flexible in its approach to citizenship, allowing individuals to maintain their current nationality, thereby supporting dual citizenship.

Furthermore, there is no requirement to reside in or visit St. Lucia to keep their citizenship.

The main applicant must be over 18 years old, have outstanding character and excellent health, pass due diligence checks, and fulfill one of the qualifying investments along with supporting documents and fees.

Main Applicant Requirements

To be eligible for St. Lucia’s Citizenship by Investment Program, the main applicant needs to be at least 18 years old. A thorough screening process and due diligence checks are applied to all applicants to ensure they meet the program’s requirements.

Notably, applicants are required to make a significant investment into the economy of St. Lucia as part of their citizenship application. This underscores the fact that the program is not just about obtaining citizenship, but also contributing to the development and prosperity of St. Lucia.

The specific investment options and amounts may vary over time and are subject to the regulations set by the St. Lucian government. Applicants typically have the choice to invest in approved real estate projects, contribute to the National Economic Fund, or engage in other qualifying investment activities. It’s important for potential applicants to stay updated with the latest program requirements and consult with experts in the field to ensure they meet all the necessary criteria and adhere to the program’s guidelines.

Inclusion of Family Members

Family is an integral part of life, and St. Lucia’s Citizenship by Investment Program understands this well. Eligibility for inclusion in the program extends to:

• the main applicant’s spouse
• children under 31
• siblings under 18
• parents over 55
• dependents with physical or mental challenges
• newborn children or spouses within five years of the citizenship grant.

However, the inclusion of family members comes with additional requirements. For instance, the inclusion of dependent children below 18 years old requires a statutory declaration from the non-accompanying parent affirming their consent. Also, adding a spouse requires an increased donation to the National Economic Fund.

Interestingly, after obtaining St. Lucia citizenship, the main applicant can add dependents by paying a flat fee within three years of the original citizenship approval.

Visa-Free Access: A Key Benefit of St. Lucia Passport

One of the major highlights of obtaining St. Lucia citizenship is the Saint Lucia passport. As of February 2024, Saint Lucian passport holders can enjoy visa-free access to more than 140 destinations globally. This includes numerous countries within the European Schengen Area, the UK, as well as destinations in the Caribbean, South America, Asia, and Oceania. With granted St. Lucia citizenship, you can take advantage of these travel benefits, making Saint Lucia citizenship a valuable asset.

In addition to visa-free travel, Saint Lucia passport holders can benefit from visa-on-arrival privileges in 31 countries, simplifying entry procedures for select destinations. Furthermore, the passport allows for the application of electronic visas (eVisas) in 16 countries, offering a convenient and efficient way to obtain entry permits prior to travel.

Tax Advantages and Financial Privacy

St. Lucia’s Citizenship by Investment Program is not just about obtaining a second passport, but also about enjoying numerous financial benefits. St. Lucia citizens do not have to pay tax on income earned from other countries and are exempt from wealth, inheritance, and capital gains taxes.

1. Tax on Income Earned Abroad: St. Lucia citizens benefit from a tax policy that exempts them from paying taxes on income earned outside of the country. This means that income derived from foreign sources, such as investments, business activities, or employment in other countries, is not subject to taxation in St. Lucia. This tax exemption provides St. Lucia citizens with financial flexibility and the opportunity to maximize their income from global endeavors.
2. Exemptions from Wealth, Inheritance, and Capital Gains Taxes: St. Lucia’s tax policies extend to wealth, inheritance, and capital gains taxes. Citizens are exempt from these forms of taxation, further safeguarding their financial assets and providing peace of mind for estate planning and wealth preservation. This exemption ensures that the financial legacies of St. Lucia citizens can be passed on to their heirs without the burden of substantial taxation.

Tax Benefits for International Business Companies (IBCs)

International Business Companies in St. Lucia enjoy the following tax benefits:

• Flat Income Tax Rate: IBCs in St. Lucia benefit from a flat income tax rate of 30%, providing a straightforward and competitive tax structure for businesses. This flat rate simplifies financial planning for companies and supports business growth.
• Exemptions: St. Lucia extends exemptions to IBCs on capital gains and dividend taxes, reducing the tax burden on corporate profits and shareholder distributions.
• Liberal Tax Holidays: The jurisdiction provides liberal tax holidays, allowing businesses to operate with reduced or zero taxation during specific periods.
• Import Duty Waivers: Companies registered in St. Lucia can enjoy waivers of import duties on certain goods and equipment, fostering a business-friendly environment and facilitating cost-effective operations.
• Financial Privacy: St. Lucia’s legal framework provides privacy protections for individuals and businesses, offering a secure environment for financial transactions and asset management.

Investment Routes and Associated Costs

St. Lucia provides several investment options to obtain the citizenship, with varying costs:

• Minimum investment of $100,000 for the National Economic Fund (NEF)
• Investment in government bonds starting at $250,000
• Real Estate investment starting at $200,000

Compared to similar programs in other countries, St. Lucia’s Citizenship by Investment Program is competitively priced, providing a cost-effective option for investors seeking dual citizenship. The upcoming Infrastructure Option, expected to be introduced on this year, will feature a reduced minimum investment threshold and simplified documentation, further enhancing the attractiveness of Saint Lucia Citizenship Program.

Donation to the National Economic Fund

The National Economic Fund route is a popular choice for investors seeking St. Lucia citizenship. A minimum donation of $100,000 is required for a single applicant. Each additional dependent incurs an extra donation cost depending on the family composition.

There are other costs associated with this route as well. A non-refundable processing fee is also charged with the donation; however, specific amounts are not detailed. In addition to due diligence fees, families will pay a processing fee for the main applicant, for each additional family member, and for each passport issued.

Investing in Approved Real Estate Projects

The real estate investment route requires a minimum investment of $200,000. This investment must be held for a period of 5 years before it can be liquidated.

Only government-approved hotels and resorts are eligible for the real estate investment route for citizenship. This ensures that the investments contribute to the development of St. Lucia’s tourism sector, which is a major driver of the economy.

Government Bond Investment Details

For those who prefer secure investments, St. Lucia’s Citizenship by Investment Program offers government bonds as an option. A minimum investment of $250,000 in government bonds is required for this route.

The full amount invested in government bonds is refunded to the investor after a five-year holding period without any interest, with no additional government administrative fees imposed. This makes it a safe and reliable investment option for those seeking St. Lucian citizenship.

Application Process: Step by Step

Several stages make up the application process for St. Lucia’s CBI Program. It begins with gathering necessary documents and completing application forms, usually facilitated by a team of experts to ensure accuracy before submission.

Applicants do not need to travel during the application process as submissions are managed through authorized agents, such as Imperial Citizenship.

Once submitted, the application undergoes a compliance check and a comprehensive due diligence review conducted by the Citizenship by Investment Unit. Applicants are required to pay additional fees, including an application fee and a due diligence fee, for both the main applicant and any dependents.

Gathering All the Required Documents

Applicants must gather personal identification documents such as birth certificates, current passports, national identity cards, and proof of residential address. Depending on individual circumstances, applicants may need to provide additional supporting documents like marriage or divorce certificates and military service cards.

Documents not in English require certified translations, and all supporting documents must be certified and authenticated as per the originating jurisdiction’s laws. Applicants are also required to submit recent professional passport-size photographs, a certified medical examination form, and police clearance certificates for the background check process.

Submission and Due Diligence Checks

The St. Lucia Citizenship by Investment Unit employs a comprehensive four-pronged due diligence process that includes:

1. Checks by licensed agents
2. Regional law enforcement
3. International due diligence firms
4. An interview with the applicant

Advanced technologies and trained professionals are deployed during the due diligence checks to ensure thorough verification of applicant information. An interview, either in person or virtually, is a mandatory component of the due diligence process for main applicants and those aged 16 and above as part of identity verification.

Applications must be submitted exclusively through an authorized experts as the Citizenship by Investment Unit does not directly accept applications.

Final Steps: Approval and Investment

Once the St. Lucia citizenship by investment application is approved in principle, completion of the qualifying investment within the specified timeframe is required from the applicant. For approved applications, the applicant has 90 days to make the investment, with the exception that if it’s in the form of bonds, real estate, or a business investment, it should be done within 21 days.

Once the investment is made and proof is provided to the Citizenship by Investment Unit, the applicant will be issued a Certificate of Naturalization confirming St. Lucian citizenship. After receiving the Certificate of Naturalization, the applicant will typically receive a St. Lucia passport within 7 days, but the whole process should not take more than 4 weeks for each family member.

Imperial Citizenship – Your Partner in Obtaining St. Lucia Citizenship by Investment

Although navigating through the St. Lucia Citizenship by Investment Program can be complex, you’re not alone in this journey. Imperial Citizenship, can assist you in the journey of obtaining St. Lucia citizenship.

With expert guidance and tailored advice, Imperial Citizenship ensures that all documents are accurately prepared, deadlines are met, and the application process goes smoothly. Our services include:

• Accurate preparation of all necessary documents: We understand the intricacies of the St. Lucia Citizenship by Investment Program and ensures that all required documents are meticulously prepared. From application forms to supporting documentation, our team ensures that every detail is in order. This attention to detail is crucial in presenting a complete and error-free application package to the authorities.
• Meeting all legal requirements: Navigating the legal requirements of the citizenship application process can be challenging. We’re well-versed in the legal framework governing St. Lucia’s program. We guide you in meeting all the legal requirements, ensuring compliance with regulations and avoiding potential pitfalls that could lead to delays or rejection.
• Improving the probability of application approval: You can benefit from our in-depth knowledge of the St. Lucia Citizenship by Investment Program. Our experience and insights into the application process can significantly improve the likelihood of your application being approved. We help you make informed decisions, choose the right investment option, and present a strong case for citizenship.
• Extensive experience in processing Caribbean citizenship applications: We brings a wealth of experience in processing citizenship applications for Caribbean nations, including St. Lucia. This experience extends beyond St. Lucia and covers various Caribbean Citizenship by Investment Programs. Our track record of success demonstrates expertise in navigating the intricacies of the application process.

Why Choose St. Lucia for Your Second Passport?

Saint Lucia, besides being a picturesque Caribbean island, is a promising destination for investors pursuing dual citizenship. Recognized for having a stable political environment and a progressive approach to economic development, St. Lucia emphasizes the importance of economic prosperity and job creation, which is conducive to investment.

The country’s legal system is based on British common law, enriched with French law influences, and is bolstered by bilateral investment treaties with countries like Germany and the UK, providing a stable and familiar legal framework. St. Lucia’s citizenship by Investment Program offers investment flexibility through options such as donations, real estate, and government bonds, coupled with an efficient infrastructure and attractive landscape, making it a good investment location.

Partner with Expert for Smooth Processing

Obtaining St. Lucia citizenship is a journey that necessitates expert guidance. Partnering with expert agents, like Imperial Citizenship, ensures that your application process is smooth and successful.

Imperial Citizenship offers:

• Tailored advice and assistance throughout the application process
• Ensuring that all documents are accurately prepared and deadlines are met
• Extensive experience processing Caribbean citizenship applications
• Critical support in meeting legal requirements and improving the probability of application approval.

Summary

The St. Lucia Citizenship by Investment Program offers a unique opportunity for investors seeking dual citizenship. With various investment routes, robust due diligence processes, family inclusion, and expert guidance from experts, the pathway to dual citizenship becomes a lot smoother.

Frequently Asked Questions

What is the cost in total of St. Lucia citizenship by investment?

The total cost of St. Lucia citizenship by investment varies based on the investment route and the number of qualifying dependents, but it starts from $100,000 for a sole applicant, with additional fees such as government administrative, processing, and due diligence fees.

How long does it take to get Saint Lucia citizenship?

It takes 6-9 months to obtain citizenship by investment in St. Lucia, which is relatively fast compared to other countries. Applicants do not need to visit the country or undergo interviews or tests, and the investment is made after the application is approved.

How much is a St. Lucian passport?

Becoming a citizen of St. Lucia starts from $100,000 with the cheapest option being a non-refundable donation to the St. Lucia National Economic Fund (NEF). The final cost varies based on the number of family members included in the application.

What are the investment routes available under St. Lucia’s Citizenship by Investment Program?

The investment routes available under St. Lucia’s Citizenship by Investment Program include donations to the National Economic Fund, purchasing government bonds, real estate investments, and investing in approved business projects. These options provide flexibility for potential investors.